Live-Work Office
654 Main St Monroe, WA 98272
For Sale
$959,000
2-story home with basement office space, updated through the years, designed to support a work-where-you-live layout.
Property Size3,074 SF
Price / SF$311.97
Days on Market77
Property Features for 654 Main St
General Information
- Standard status
- Active
- Size
- 3,074 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1928
Listing Agency:
WINDERMERE R.E./J.S.
(360) 653-2509
Listed By:
DEBRA BARGER SMITH
Source:
Corcoran
Added: May 9
Changed: Jul 23
Last Checked: Jul 23 at 11:25AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of WINDERMERE R.E./J.S.
Investment Insights
Based on property information with market context.
This live-work office property is a two-story home with a basement, with the available space used for the offices of a private company for more than 20 years, including live-in externs. The floor plan supports a work-where-you-live lifestyle with a living room, dining room, kitchen open to a family room or conference room, and additional office or bedroom space, plus a laundry room and a fully remodeled bathroom. Updates mentioned include maple flooring, kitchen remodeling with granite countertops, paint, roof/gutters, decking, an upstairs suite remodel, an electrical panel, furnace, hot water tank, and additional decks.
The property is located in the City of Monroe within flexible Multi-Use Neighborhood Zoning.
Overall, it offers a residential structure arranged to accommodate office use throughout multiple levels, backed by a documented history of improvements.
The property is located in the City of Monroe within flexible Multi-Use Neighborhood Zoning.
Overall, it offers a residential structure arranged to accommodate office use throughout multiple levels, backed by a documented history of improvements.
Key Highlights
- Built in 1928 with a 2‑story layout plus basement office space used for a private company
- Flexible Multi‑Use Neighborhood Zoning in the City of Monroe
- Work‑where‑you‑live layout with living room, dining room, kitchen open to family room or conference room
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $84.1k | $27.36 |
| − Vacancy | −$11.1k | −$3.61 |
| EGI | $73.0k | $23.75 |
| − OpEx | −$18.3k | −$5.94 |
| NOI | $54.8k | $17.81 |
3,074 SF · lease $27.36/SF/yr · vacancy 13.20% · expense 25.00%
Alternative Uses
Best Use
Office B
$782.2K
$684.4K – $912.5K
NOI $54,752 @ 7.0% cap · market cap 5.71%
Second Best
Mixed Use
$495.0K
$433.2K – $577.5K
NOI $34,652 @ 7.0% cap · market cap 3.61%
Theoretical Best
Office A
$857.3K
$750.1K – $1.00M
NOI $60,010 @ 7.0% cap · market cap 6.26%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Northwest Zoopath
Laboratory
FAQs
What type of property is this?
Live-work space - 2-story home with basement office space, updated through the years, designed to support a work-where-you-live layout.
Where is this live-work space located?
The property is located at 654 Main St Monroe, WA.
What is the asking price?
The asking price for this property is $959,000.
What are key features of this property?
This property features: Built in 1928 with a 2‑story layout plus basement office space used for a private company; Flexible Multi‑Use Neighborhood Zoning in the City of Monroe; Work‑where‑you‑live layout with living room, dining room, kitchen open to family room or conference room
